APPLICATIONS are now being accepted online for the €120m young farmer capital investment scheme.

Agriculture Minister Simon Coveney said applications can be submitted from tomorrow, with this date being used to assess whether a farmer meets the criteria for age and date of set-up.

Around 4,000 applications are expected to be accepted under the TAMS II scheme.

The closing date for the current tranche of applications is Friday, September 18.

Mr Coveney said the tranches of applications would be organised regularly. "It is important for farmers to remember this as they need time to organise planning-permission for any new construction," he said.

Young farmers will be able to avail of grand-aid for constructing new dairy buildings.

Grant aid of up to 60pc will be available.

Among the remaining schemes due to be launched are the dairy equipment scheme and slurry spreading.